The Company considers Risk Management as being fundamental to good management practice, and a significant aspect of the Company’s governance arrangement. Effective management of risk will contribute towards the Company’s value creation/protection and the achievement of its strategic goals.
The Company is committed to fostering a culture of Risk Management, and developing and implementing frameworks, processes, tools and structures that systematically and proactively identify, measure, mitigate and report risks. This Risk Management Policy is a formal acknowledgement of the commitment of the Company towards Risk Management.
The identification, management and treatment of risk is critical to meeting the Company’s objectives as specified in the Company’s business plan. Risks faced by the Company shall be managed on an enterprise-wide basis
Risk Management shall be embedded into the Company’s ongoing critical business activities, functions and processes. Risk understanding and tolerance for risk shall be key considerations in decision making.
Overall responsibility for risk management lies with the Chief Executive Officer (CEO). The CEO (supported by the Risk Management function) shall be responsible to ensure that the ERM framework is effective and identified risks are mitigated, resolved or actioned in line with the ERM Framework.
Risk management performance of the employees, entities and projects will be monitored, reviewed and reported. EJADAH will provide regular reporting to DHRE and Dubai Holding on the effectiveness of the Company’s risk management processes.
The ownership of this Policy rests with the Risk Management function and the Policy Owner of this Policy is the Business Excellence Manager.
The Policy Owner is responsible for implementing, monitoring, evaluating the policy and reviewing it at least on an annual basis. There is no expiry date for this policy, and it will continue in place until revoked or revised.
Issue Date: 22.Mar.2022
For more information on ERM policy and framework, please reach out to Ejadah Business Excellence Business.Excellence@ejadah.ae
